Trump’s Tax Plan WILL Affect You – But How?
On December 22, 2017, in one of the fastest-moving pieces of legislation to come across a President’s desk, President Trump signed into law a bill generally known as the “Tax Cuts and Jobs Act,” formally HR1 – An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018. The Act will undoubtedly affect most individuals and businesses beginning with the 2018 tax year. Some of these changes are only temporary tax breaks set to expire while other changes are permanent reform measures. Verrill Dana’s Tax Practice has prepared a comprehensive client advisory highlighting many of the major tax reform changes, including specific focus on the following areas:
- Individual Taxation
- Corporate Taxation
- Taxation of Pass-Through Entities
- Compensation and Benefits
- Beer, Wine and Distilled Spirits
- Tax-Exempt Organizations
- International Operations
- Like-Kind Exchanges
Access the full advisory here on the Verrill Dana website, or click on the above areas of interest.